https://www.taxtmi.com/caselaws?id=253623 The Supreme Court ruled in favor of the assessee regarding the deduction of interest on borrowings for capital assets under section 36(1)(iii) of the Income Tax Act, 1961. The Court clarified the legal position, providing a favorable outcome for the assessee. The question of claiming partial depreciation on block of assets was remitted to the High Court for further examination due to legislative changes. The High Court, relying on established legal principles and previous judgments, decided in favor of the assessee, dismissing the appeal as no substantial question of law arose from the case. en-us Mon, 17 Nov 2014 00:00:00 +0530 Fri, 28 Nov 2014 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253623 The Supreme Court ruled in favor of the assessee regarding the deduction of interest on borrowings for capital assets under section 36(1)(iii) of the Income Tax Act, 1961. The Court clarified the legal position, providing a favorable outcome for the assessee. The question of claiming partial depreciation on block of assets was remitted to the High Court for further examination due to legislative changes. The High Court, relying on established legal principles and previous judgments, decided in favor of the assessee, dismissing the appeal as no substantial question of law arose from the case. Case-Laws Income Tax Mon, 17 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253623